goldpoly_solar2Goldpoly continues to increase its on-grid solar capacity in Mainland China.    Photo: GoldpolyGOLDPOLY to add 195MW solar capacity

Goldpoly New Energy Holdings Ltd (HK: 686) entered into an agreement with members of the Photovoltaic Green Ecosystem Organization (PGO), including GD Solar, GUODIAN Inner Mongolia New Energy and China’s Forty-eighth Research Institute, to acquire 400MW in solar farms.

Goldpoly New Energy, whose largest shareholder is China Merchants New Energy Group (CMNE), will pay GD Solar a 100 million hkd deposit to acquire no less than 80% equity interest in the first batch solar farm projects with annual electricity generation capacity of 195MW.

The breakdown is as follows: 40MW Guodian Wulatehouqi project and 50MW Chahaeryouyiqianqi project owned by GUODIAN; 65MW Guodian Nailuntumotezuoqi project and 40MW Guodian Tuoketuo County project owned by the Forty-eighth Research Institute.

According to the agreement, the acquisition projects will fulfill the conditions for on-grid connection and commence to generate electricity by December 31, 2013.

goldpolyshrs11_25Goldpoly's recent Hong Kong share performance.    Source: Yahoo Finance

"The establishment of the PGO this August enabled Goldpoly to develop photovoltaic power plants in close collaboration with China’s leading photovoltaic enterprises.

“The long-term strategic partnership between upstream and downstream enterprises allows all parties not only to bring their advantages into full play so as to ensure grid-connection and improve operating efficiency and stability, but also to effectuate the healthy development of the PV industry for a win-win result,” said Goldpoly Executive Director and CEO Mr. Alan Li.

Goldpoly New Energy Holdings Ltd, one of the leading PV solar farm operators in China, is mainly engaged in the investment, development and operation of solar power stations. On 10 June 2013, the Company completed the acquisition of China Merchants New Energy Holdings Ltd. Following the acquisition, the Company commenced a series of M&As by leveraging strong connections with large conglomerates to reach a plateau of rapid growth.
 



comtec11_22Comtec recently 1.62 hkdCOMTEC SOLAR, BYD win approval from Beijing

China’s influential
Ministry of Industry and Information Technology (MIIT) unveiled the first list of companies which have met the regulatory requirements to play a greater role in the country’s photovoltaic (PV) manufacturing industry.

byd11_25BYD recently 38.70 hkdAmong the firms named are a Shanghai-based unit of Comtec Solar (HK: 712) and Shenzhen-based BYD Co (HK: 1211).

Making the list affords firms greater potential access to China’s fast-growing solar manufacturing sector and makes subsidies and government contract signings a more likely possibility.

BYD, best known for its popular hybrid vehicles and 10% held by Warren Buffett's investment firm Berkshire Hathaway, also engages in downstream solar product manufacturing including wafers and PV module assemblies.



See also:

GOLDPOLY, BYD Both 'Buys'

COMTEC SOLAR Q3 Revenue Slips

 


Share Prices

Counter NameLastChange
AEM Holdings3.7300.080
Avi-Tech Electronics0.275-0.015
Best World1.790-0.010
Broadway Ind0.1190.002
China Sunsine0.410-
DISA0.003-
Food Empire0.6500.030
Fortress Minerals0.345-
Geo Energy Res0.3550.005
Golden Energy0.7750.005
GSS Energy0.047-
InnoTek0.4750.025
ISDN Holdings0.4050.010
ISOTeam0.095-
IX Biopharma0.127-
Jiutian Chemical0.0760.001
KSH Holdings0.355-
Leader Env0.053-0.007
Medtecs Intl0.147-0.001
Meta Health0.0250.001
Nordic Group0.475-
Oxley Holdings0.1450.001
REX International0.2350.005
Riverstone0.6250.025
Sinostar PEC0.191-
Southern Alliance Mining0.405-
Straco Corp.0.405-
Sunpower Group0.255-
The Trendlines0.0940.001
Totm Technologies0.110-0.004
UG Healthcare0.1990.001
Uni-Asia Group0.8150.015
Wilmar Intl4.0900.030
Yangzijiang Shipbldg1.390-0.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 2353 guests and no members online